SBA and Treasury Announce PPP Round 2, New Guidance

SBA and Treasury Announce PPP Round 2, New Guidance

From the Pinnacle CPA Advisory Group/National Society of Accountants —  WASHINGTON – The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, announced PPP Round 2 on Friday, Jan. 8. The Paycheck Protection Program (PPP) re-opened...
Focus: Extended COVID relief affecting individual taxpayers

Focus: Extended COVID relief affecting individual taxpayers

From the Pinnacle CPA Advisory Group /Thomson-Reuters —  Dear Clients and Friends, Here is an overview of key provisions in the extended COVID relief legislation enacted in late December that affect individuals. The legislation is the COVID-related Tax Relief Act of...
Additional 2020 economic impact payments

Additional 2020 economic impact payments

From the Pinnacle CPA Advisory Group /Thomson-Reuters —  Dear Clients and Friends, You’ve probably heard that IRS will be making millions of ”economic impact payments” (also called ”recovery rebates”) in the near future to help people...
IRS issues standard mileage rates for 2021

IRS issues standard mileage rates for 2021

IRS Newswire. —  WASHINGTON — The Internal Revenue Service recently issued the 2021 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2021, the...
Forecast of what may be coming with the Biden tax plan

Forecast of what may be coming with the Biden tax plan

With information from our friends at Pinnacle Wealth Planning Services, Inc. —  Now that the 2020 general election is mostly over, it’s time to consider what federal tax changes President­elect Biden would like to see for 2021 and beyond. However, the...
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